California Resources Corporation $CRC Stock Holdings Lowered by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in shares of California Resources Corporation (NYSE:CRC) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,156,848 shares of the oil and gas producer’s stock after selling 24,958 shares during the period. Dimensional Fund Advisors LP owned approximately 4.68% of California Resources worth $287,734,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CRC. Federated Hermes Inc. increased its holdings in shares of California Resources by 4.3% in the fourth quarter. Federated Hermes Inc. now owns 4,683 shares of the oil and gas producer’s stock valued at $209,000 after buying an additional 195 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of California Resources by 14.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,677 shares of the oil and gas producer’s stock worth $75,000 after acquiring an additional 214 shares in the last quarter. iA Global Asset Management Inc. grew its holdings in shares of California Resources by 4.4% in the 4th quarter. iA Global Asset Management Inc. now owns 5,440 shares of the oil and gas producer’s stock worth $243,000 after acquiring an additional 230 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of California Resources by 26.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,715 shares of the oil and gas producer’s stock worth $77,000 after acquiring an additional 362 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of California Resources by 27.8% in the 4th quarter. GAMMA Investing LLC now owns 1,698 shares of the oil and gas producer’s stock worth $76,000 after acquiring an additional 369 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other California Resources news, EVP Jay A. Bys sold 11,907 shares of California Resources stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $54.00, for a total transaction of $642,978.00. Following the transaction, the executive vice president owned 159,424 shares of the company’s stock, valued at $8,608,896. The trade was a 6.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group reaffirmed a “buy” rating and set a $70.00 target price (down from $78.00) on shares of California Resources in a report on Monday, July 13th. Wall Street Zen cut California Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings downgraded California Resources from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 14th. Citigroup cut their price objective on California Resources from $78.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Barclays upped their price objective on shares of California Resources from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, California Resources has an average rating of “Moderate Buy” and a consensus target price of $73.09.

California Resources Price Performance

Shares of NYSE:CRC opened at $53.83 on Thursday. The company’s fifty day moving average is $56.44 and its two-hundred day moving average is $58.17. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 0.45. California Resources Corporation has a 12-month low of $43.24 and a 12-month high of $71.98. The company has a market cap of $4.78 billion, a P/E ratio of -10.35 and a beta of 0.92.

California Resources (NYSE:CRC) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $0.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.88. California Resources had a positive return on equity of 10.12% and a negative net margin of 16.10%.The company had revenue of $119.00 million during the quarter, compared to analyst estimates of $947.50 million. During the same quarter in the prior year, the company earned $1.07 earnings per share. The company’s revenue for the quarter was down 87.0% on a year-over-year basis. Equities analysts expect that California Resources Corporation will post 4.02 earnings per share for the current fiscal year.

California Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, May 29th were given a dividend of $0.405 per share. The ex-dividend date was Friday, May 29th. This represents a $1.62 dividend on an annualized basis and a yield of 3.0%. California Resources’s dividend payout ratio (DPR) is presently -31.15%.

California Resources Company Profile

California Resources Corporation (NYSE: CRC) is an independent exploration and production company focused exclusively on developing oil and natural gas assets in California. Headquartered in Newport Beach, the company engages in hydraulic fracturing, well completions, reservoir management and enhanced recovery operations to produce crude oil, natural gas and natural gas liquids.

CRC’s operations are concentrated in three core regions: the Los Angeles Basin, the Ventura Basin and the San Joaquin Basin.